What is the difference between advice, information only and a personal recommendation?
Amongst other things the Finalised Guidance document FG15_1 ‘Retail investment advice: Clarifying the boundaries and exploring the barriers to market development’ looked to explain the differences.
Steve Bailey (ATEB director) recently undertook a critical and detailed examination of the paper for an article compiled for Adviser Business Review.
The article can be accessed here.
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It’s an important read. Firms looking at developing other distribution channels will need to be very careful in their approach. Innovation can create some excellent customer outcomes with the right level of investment and expertise, but beware, because there are some banana skins.
If you are in doubt please refer to your ATEB consultant or contact us here.
More Choice – More Flexibility – More Relevance
A increasingly common desire since pension freedoms were introduced in 2015 … but advisers should be wary!
Many firms will need to make changes to their suitability processes.
Something to watch out for when advising clients with enhanced TVs.
Senior Managers Regime
Alistair MacDougall Compliance 2016, FCA, SM&CR
This will be extended to all firms during 2018 and has some significant impacts.